“Networking” – both online and in person – is becoming a mainstay in our lexicon. It is true that being a proactive networker can result in growth and success but you have to network correctly.
So the next time you head to a networking event, no matter if you are a real estate investor, mortgage broker, agent, or insurance salesman, be sure to network correctly and avoid these mistakes.
1. Standing on the sidelines
Despite its correlation with success and transactional growth so many real estate agents and other professional are increasingly keeping themselves standing on the sidelines, hiding behind computers instead of out meeting people. Much like exercise, it might hurt a little at first but stop with the excuses and get active.
2. Thinking Only About Individual Sales
Networking events and local real estate investing group meetings can open you up to some one off deals, but it I going to be a long hard road with with a small hourly wage if you have to spend hours networking for each lead individually. Instead try to uncover a strategic relationship that can result in you finding dozens of leads every month.
3. Not Having a Clear Goal
If you enjoys coffee and talking with strangers networking will be lots of fun. But if you want to get something productive out of your time, go prepared and with a clear goal of what you want to accomplish.
4. Over-the-top Self-Promotion
There is a time and place for discussing your track record, but keep in mind others are attending to see what the networking event can do for them, not just you.
5. Being Unremarkable
You want people to want to work with you. Going into a networking event and being dull will not make people want to partner with you, will not help to get you remembered and it will not be much fun.
6. Spending too much on Networking
Just as with your marketing dollars, keep an eye on your Return on Investment (ROI). Networking is important, but you do not want to break the bank on overdoing it. Keep an eye on how much you are spending between the food, drinks, and admission prices.
7. Failing to Create Action
If you are going to invest time and money into your networking commitment be sure that you also plan on taking action to capitalize on the events. Follow up with people, schedule meetings, get them to follow you on Facebook or Twitter. You don’t have to hard close them all, but be sure to get something out of the event.